Raoul Pal: Crypto Cycle ‘Spookily Similar’ to 2017
The current crypto market is showing similarities to the 2017 trend, with Bitcoin experiencing a steady uptrend before a potential surge. Raoul Pal, CEO of Real Vision, forecasts a longer crypto cycle due to the business cycle score remaining below 50. Bitcoin started 2017 at $1,044 and closed at $14,156, marking a 1,255% increase. The weakening US dollar, down 8.99% since January, suggests the current cycle may extend into Q2 2026, as Bitcoin becomes more appealing amid dollar depreciation. Pal indicates that macroeconomic factors have shifted the cycle, resembling market conditions of 2020 rather than 2021. He emphasizes the need for larger players to enter the market and notes a bullish outlook on crypto from Middle Eastern Sovereign Wealth Funds, focusing on AI and blockchain integration in government infrastructure.
